Pengaruh Implementasi Internal Control Over Financial Reporting (ICoFR) dan Peran Komite Audit terhadap Kualitas Audit di Sektor Jasa Keuangan Indonesia
Keywords:
ICoFR, audit committee, audit quality, financial services, agency theory
Abstract
This study investigates the influence of Internal Control over Financial Reporting (ICoFR) implementation and the role of the audit committee on audit quality in Indonesia’s financial services sector. The research is motivated by cases such as Jiwasraya, Asabri, and Garuda Indonesia, which revealed weaknesses in internal control and audit oversight despite strict regulations by the Financial Services Authority (OJK). Grounded in agency theory, the study assumes that effective ICoFR reduces information asymmetry by ensuring reliable financial reporting, while the audit committee serves as a governance mechanism to monitor internal control and support external auditors. Using a quantitative, explanatory approach, data were collected through questionnaires distributed to internal auditors, external auditors, and audit committee members in financial service companies listed on the Indonesia Stock Exchange. Variables were measured based on COSO framework indicators for ICoFR, independence and competence for audit committees, and independence, compliance, and reliability for audit quality. Data analysis employed validity and reliability testing, regression, and SEM-PLS. Results show that ICoFR (β = 0.39; p < 0.001) and the audit committee (β = 0.36; p < 0.001) have significant positive effects on audit quality. Together, both factors explain 53% of the variance in audit quality (R² = 0.53). These findings confirm agency theory and emphasize that substantive, rather than merely formal, compliance with governance regulations is crucial to enhancing audit quality.
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Yustiani, S., & Taufiq Hidayat, R. (2024). Internal Control Over Financial Reporting (Icofr) At The Hajj And Financial Management Agency. Proceeding Of Public Sector International Conference.
Zhafarina Qashri, A., & Liahmad. (2023). The Influence of Audit Quality and Audit Committee on the Quality of Financial Reporting of Companies Registered on the Jakarta Islamic Index (JII). Technium Social Science Journal, 50(Special), 2668–7798. www.techniumscience.com
Denziana, A. (2015). The Influence Of Audit Committee Quality And Internal Auditor Objectivity Toward The Prevention Of Fraudulent Financial Reporting (A Survey in State Owned Enterprises of Indonesia). In International Journal on Economics and Social Sciences (Vol. 1, Issue 1).
Devi Nurhidayati, P., & Bagus Wibowo, R. (2025). Enhancing Internal Control at an Indonesian Cooperative Implementation ICoFR on Internal Control of Electricity Sales Revenue PLN UP3 Malang. Jurnal Riset Akuntansi dan Keuangan, 2(13), 469–480. https://doi.org/10.17509/jrak.v13i2.78414
Dwinanto Bimo, I., Siregar, S. V., Anitawati Hermawan, A., & Wardhani, R. (2019). Internal Control Over Financial Reporting, Organizational Complexity, and Financial Reporting Quality. In International Journal of Economics and Management Journal homepage (Vol. 13, Issue 2). http://www.ijem.upm.edu.my
Efendy, M., T. (2010). Pengaruh Kompetensi, Independensi, dan Motivasi Terhadap Kualitas Audit Aparat Inspektorat Dalam Pengawasan Keuangan Daerah. Tesis: Magister Sains Akuntansi Universitas DIponegoro.
Eisenhardt, K. M. (1989). Agency Theory: An Assessment and Review. Academy of Management, 14(1). https://doi.org/https://doi.org/10.5465/amr.1989.4279003
Ermawati, L., Devi, Y., & Arramadani, N. N. (2020). Pengaruh Kualitas Audit Dan Komite Audit Terhadap Kualitas Pelaporan Keuangan Perusahaan Yang Terdaftar Di Jakarta Islamic Index (JII). Liya Ermawati. Yulistia Devi & Naurah Nazhifah Arramadani, 11(1).
Gaber, M., Garas, S., & Lusk, E. J. (2019). Evidence on the Impact of Internal Control over Financial Reporting on Audit Fees. International Journal of Accounting and Financial Reporting, 9(3), 1. https://doi.org/10.5296/ijafr.v9i3.15001
Haier. (2002). Statistik II. Elex Media Komputindo.
Indonesia, P. (2024). Signifikansi Internal Controls over Financial Reporting (ICOFR) dalam lingkungan regulasi di Indonesia. PwC Indonesia.
Jensen, M.C., and W. H. M. (1976). Theory of the firm: managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3, 3:305−360.
Kartika, V. N., & Ningsih, S. (2024). The Influence Of Internal Control Systems, Implementation Of Government Accounting Standards, And Human Resource Competence On Financial Report Quality. Jurnal Akuntansi Dan Auditing, 21, 24–38.
KPMG. (2023). handbook-internal-controls-over-financial-reporting (1st ed.). KPMG Global Organization of Independent.
Kwaku Asare, S., Fitzgerald, B. C., Graham, L., Joe, J. R., Negangard, E. M., Wolfe, C. J., Hermanson, D., Schneider, A., & Wright, A. (2012). Auditors’ Internal Control Over Financial Reporting Decisions: Analysis, Synthesis, and Research Directions We appreciate helpful feedback from Audrey Gramling. http://ssrn.com/abstract=2032822http://ssrn.com/abstract=2032822
Maghfira, F., & Wondabio, L. S. (2023). Peningkatan Rancangan Pengendalian Intern atas Pelaporan Keuangan pada Proses Pengelolaan Barang Rampasan KPK. AFRE Accounting and Financial Review, 6(3), 337–350. https://doi.org/10.26905/afr.v6i3.10285
Mursyida, I., & Maulina, R. (2023). The Role of Internal Audit and Internal Control on the Quality of Financial Reports at PT. ABC. In Jurnal Ilmiah Manajemen Kesatuan (Vol. 11, Issue 3).
Nadi, I. M. P. P., & Suputra, I. D. G. D. (2017). Pengaruh Kompetensi, Pengalaman, Independensi, Dan Motivasi Auditor Pada Kualitas Audit. Jurnal Akuntansi Universitas Udayana, 18(2), 942–964.
Ni Luh Putu Ayu Priscilla Wirantika Putri, & Dyah Setyaningrum. (2025). Analysis of Internal Control over Financial Reporting on Inventory Accounts: A Case Study at Institution X. E-Jurnal Akuntansi, 35(7). https://doi.org/10.24843/EJA.2025.v35.i07.p02
Nindita, C., & Siregar, S. V. (2025). Usulan Perancangan Internal Control Over Financial Reporting (ICOFR) Pada Proses Bisnis Treasury di PTPNR. Jurnal LOCUS: Penelitian dan Pengabdian, 4(9), 8563–8574.
Pakpahan, R., Murwaningsari, E., & Mayangsari, S. (2025). Influence Of Internal Control System Weaknesses And Audit Quality On The Quality Of Local Government Financial Reports In Indonesia With Good Government Governance As Moderating. International Journal of Science, Technology & Management, 4(6). http://ijstm.inarah.co.id
Pratiwi, I., & Ratnaningsih, R. (2020). Influence Of The Role Of The Audit And Internal Audit Committee Influence Of The Role Of The Audit And Internal Audit Committee On The Implementation Of Good Corporate Governance In Pt. Pindad (Persero). Sekolah Tinggi Ilmu Ekonomi Indonesia, 1(1).
Ramadhan, M. I., & Putri, L. A. (2022). The Internal Audit Function and Its Effect on Audit Quality. Budapest International Research and Critics Institute Journal, 5(3), 22282–22288. https://doi.org/10.33258/birci.v5i3.6235
Sem, D. Van, & Hastuti, T. D. (2024). The Impact Of Audit Quality, Audit Committe, And Internal Control Systems On Financial Report Quality (Idx Finance Sector). Keunis, 12(2), 120. https://doi.org/10.32497/keunis.v12i2.5507
Toduho, D. M., Djaddang, S., & Lysandra, S. (2024). Determinants Of Audit Quality With Integrated Reporting As A Moderator (Study On Financial Sector Companies In Indonesia And Malaysia)-Dion M Toduho et.al Determinants Of Audit Quality With Integrated Reporting As A Moderator (Study On Financial Sector Companies In Indonesia And Malaysia). Jurnal Ekonomi, 13(3), 2024. https://doi.org/10.54209/ekonomi.v13i03
Utama, M. (n.d.). Komite Audit, Good Corporate Governance Dan Pengungkapan Informasi. Jurnal Akuntansi Dan Keuanqan Indonesia, 1, 61–79.
Virginia, E., & Hermawan, A. A. (2023). Internal Control Over Financial Reporting (Icofr) Analysis (Study Case Pt Garuda Indonesia Over The Year 2012-2020). Contemporary Accounting Case Studies, 2(1), 150–165.
Wulandari Hermawan, S., & Yuliarini, S. (2023). Analisis Internal Control Over Finansial Reporting (Icofr) Pada Penerapan Erp Odoo Di Pt. Visiniaga Mitra Kreasindo. Liability, Nn(54). https://journal.uwks.ac.id/index.php/liability
Yasis, U. (2024). Influence of Government Accounting Standards, Systems Internal Control, Regulatory Compliance Legislation on Quality Financial Statements. In International Journal of Science and Society (Vol. 6, Issue 1).
http://ijsoc.goacademica.com
Yunus, B., Anam, H., Yudea, & Saraswati, W. (2025). Pengaruh Komite Audit, Profitabilitas Dan Kualitas Audit Terhadap Ketepatan Waktu Pelaporan Keuangan Pada Perusahaan Sub Sektor Makanan Dan Minuman Pada Periode 2021-2023. Krisna Kumpulan Riset Akuntansi, 17(1), 10–16.
Yusron, M., Sidiqi, A., & Murwaningsari, E. (2025). Pengaruh Komite Audit Dan Kualitas Audit Terhadap Integritas Laporan Keuangan. Oktober, 5(2), 655–666. https://doi.org/10.25105/jet.v5i2.23303
Yustiani, S., & Taufiq Hidayat, R. (2024). Internal Control Over Financial Reporting (Icofr) At The Hajj And Financial Management Agency. Proceeding Of Public Sector International Conference.
Zhafarina Qashri, A., & Liahmad. (2023). The Influence of Audit Quality and Audit Committee on the Quality of Financial Reporting of Companies Registered on the Jakarta Islamic Index (JII). Technium Social Science Journal, 50(Special), 2668–7798. www.techniumscience.com
Published
2025-11-28
How to Cite
Puri, D., Andani, R., & Kristianto, G. (2025, November 28). Pengaruh Implementasi Internal Control Over Financial Reporting (ICoFR) dan Peran Komite Audit terhadap Kualitas Audit di Sektor Jasa Keuangan Indonesia. Seminar Nasional Penelitian Dan Pengabdian Kepada Masyarakat 2025, 4(1), 89-100. https://doi.org/https://doi.org/10.35960/snppkm.v4i1.1371
Section
Penelitian
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